With oil company profits at a record high and high gas prices for consumers, Americans are looking to cut costs now and in the future. Owners of electric vehicles (EVs), on average, spend 60 percent less on fuel compared to owners of traditional vehicles, a difference which would impact families’ pocketbooks now more than ever. We have a unique opportunity to reduce our reliance on gasoline and reduce our emissions through widespread adoption of EVs, which cause less than half as much pollution as traditional cars.
EVs make up only 3 percent of car sales worldwide, but these sales are expected to surge to 28 percent in just eight years and to 58 percent by 2040. Similarly, the global electric vehicle charging station market is expected to boom by 31.5 percent between now and 2030. As more and more EVs become available, Congress should work to ensure the necessary infrastructure is in place to support these cars and their drivers.
In California, we have made great progress on EVs. Although the state accounts for only 10 percent of the nation’s cars, it has more than 40 percent of all zero-emission cars in the country. California has the highest level of public funding for EVs, the largest EV market share percentage and the most extensive public charging infrastructure of all 50 states.
Nationally, through the historic Infrastructure Investment and Jobs Act, we will be able to build out EV charging infrastructure with the bold investment of $7.5 billion, making EV travel more accessible for Americans throughout the country. This initiative is based on the Clean Corridors Act I authored, which would allow more people to take advantage of these economically and environmentally efficient cars by giving them the means to charge their vehicles and travel longer ranges.
We have made a big down payment to make EV deployment a reality throughout the U.S., but we need to continue to make annual investments in EV charging infrastructure, and Congress should increase the EV tax credit, like was envisioned in Build Back Better, to make the initial investment in EVs less burdensome for American families. In doing so, we can harness the power of EVs to save Americans money at the pump and save our planet for future generations.
Mark DeSaulnier represents California’s 11th District and is a member of the House Transportation and Infrastructure Committee. He previously served as chair of the California State Senate Transportation and Housing Committee as well as the California Assembly Transportation Committee, is a former member of the California Air Resources Board and has been a longtime leader in advocating for safe and efficient transportation systems.